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Sony's Financial Unit Prices
IPO at 400,000 Yen a Share

By

Atsuko Fukase

Updated Oct. 2, 2007 11:59 p.m. ET

TOKYO -- Sony Corp.'s financial unit priced its initial public offering at the top of an indicative price range to raise 348 billion yen ($3.03 billion), but fund managers said the high price may limit investor interest.

The IPO price for Sony Financial Holdings Inc. was set at 400,000 yen a share for as many as 870,000 common shares, including an over-allotment of 70,000 shares. Sony Financial's tentative price range had been set at 380,000 yen to 400,000 yen per share.